Why Is Finance Ageless? Priceless Lessons of Our Ancestors

Old Roman coins, may be inflated. New times, the same ageless problems.
  • “Ageless Finance” means basic financial knowledge is the same in all centuries, but most people don’t know it.
  • There were always many financial crises, frauds, excessive debt, or inflation.
  • Many people fell victim to them for lack of knowledge.
  • Don’t miss learning what humanity should have known since ancient times!

Scandal in the Roman Empire or How Can Be Finance Ageless?

Ageless doesn’t mean old or obsolete. But let’s begin with basic financial knowledge from the Classical Ages.

The Crisis of the Third Century, also known as Military Anarchy or the Imperial Crisis, was when the Roman Empire nearly collapsed under the combined pressures of invasion, civil war, plague, and economic depression–wrote Wikipedia

Economic depression, crisis, almost 1800 years ago? Yes, and throughout the whole history, it happened over and over again. Another excellent example: do you know which one was the “Great Depression” originally? No, not the one in 1929-1933. The other, forgotten long ago, in 1873-1879 in the USA, longer in other countries in Europe. (Renamed “Long Depression” later.) Some people can’t even remember very well the crisis in 2007-2009. The memory of many of us works accurately only for a few years.

Bank run on the Seamen’s Savings Bank during the panic of 1857
Photo: Bank run on the Seamen’s Savings Bank during the panic of 1857, Wikipedia (Harper’s Weekly at Library of Congress)

Evergreen Financial Laws for You

Nothing changes, then? Are we struggling with the same financial problems over and over again? Not exactly, but some basic knowledge seems to be eternal and also geographically unlimited. I say finance is ageless because basic financial knowledge is in significant part the same today as many centuries ago. For example, some ageless basic rules:

  • Don’t spend more money than you earn.
  • Don’t get too much into debt.
  • You should always have adequate financial reserves.
  • Planning is essential – always think about your future and also prepare for the worst cases. (Illness, unemployment, death of family members, etc.)
  • Beware of frauds. What sounds too good is never true.
  • Mind the tricks of rulers, states, or national banks trying to take away your savings, e. g, inflating your money.
  • Etc.

Ancient And Modern Debt Slavery

These basic financial knowledge lessons people could have learned 2,000-2,500 years ago already, or maybe more. But they didn’t. There are always some citizens who sink extremely deep in debts. Creditors sold their non-paying debtors in the classic ages, often as slaves. In the modern ages, many people work similarly to slaves to pay off their debts. Others lost all their savings in Ponzi Schemes, frauds, market bubbles, or due to high inflation.

Postage stamps of Weimar Germany, hyperinflation of the early 1920s (Wikimedia Commons) 
Inflated money. Postage stamps of Weimar Germany, hyperinflation of the early 1920s (Wikimedia Commons)

Do you want to be an enslaved debtor? Or an average penniless person? No? Get basic financial knowledge. In many countries, pupils or students receive no financial education at all. In others, their “financial literacy” is only on a low level. For example, they learn how to calculate compound interest in school. But nothing about its actual benefits or risks (by debts).

Is Learning Finance Worse Than the Dentist?

An interesting OECD survey from 2005:

In Australia, 67 percent of respondents indicated that they understood the concept of compound interest. Yet when they were asked to solve a problem using the concept, only 28 percent had a good understanding level. A Canadian survey found that respondents considered choosing the right investments to be more stressful than going to the dentist. A study in the US found that four out of ten American workers are not saving for retirement. (Wikipedia)

By a newer survey of OECD, on average, only 12 percent of 15-year-old students are top performers in financial literacy (PISA 2015 results). So, when you think, “oh, no, just another personal finance blog,” maybe you should consider it again. Financial literacy is globally on a low level, and new resources, new approaches may be needed. 

Let’s Tell the Financial Truth

Learning and earning
Learning and earning

Ageless Finance Investing blog can give you new approaches. Offering honest, unselfish, and easily understandable information about money, investment, interests, savings, working, earning. 

Our mission is to teach genuine and clear knowledge about money to all people worldwide, for all ages and social groups. We also answer your questions on many social media sites.

Because on other sites:

  • They aren’t always honest.
  • Often want to sell you disadvantageous financial products.
  • Are selling you too risky, too complicated, or too costly investments.
  • Sometimes also can offer you fraudulent products or services.
  • Their language is often too complicated for those whose your mother’s tongue is English. Or they presume you have the necessary basic financial knowledge already.
  • Some sites target only the wealthiest nations.
  • Other sites target primarily good-earning or wealthy people who have enough money to invest.
  • There are some sites which write only about the most popular topics at the moment. (Like the “passive income” hype nowadays. Or the top US stocks.)

Follow Ageless Finance on social media or check back soon! 

New personal finance posts:

Our first posts for you:

Donations in cryptocurrencies are welcome:
  • Bitcoin: 1NnnyTEDWqAKcjWQZG4YcNAAjBaxzt1yYd
  • Ether: 0xA4f037170fE31FcaA48a54B3f2EE05368ac47a4E
  • XRP: rUcdaAVhbs1SnJVrARXvaMWuoBqDpNcGXn
  • Litecoin: LgY2tfTPk8pkTFKREEBNGac6Lraj4sVDLv
  • EOS: hzj43gz3jmpj

(Photos if not indicated otherwise: Pixabay.com)


I’m not a certified financial advisor nor a certified financial analyst, accountant, nor lawyer. The contents on my site and in my posts are for informational and entertainment purposes and reflecting my collection of data, ideas, opinions. Please, do your proper research, or consult your advisors before making any investment or financial or legal decisions.

4 thoughts on “Why Is Finance Ageless? Priceless Lessons of Our Ancestors

Leave a Reply